3 ms·
Half of Americans don't even have the savings to front a 400USD emergency bill. I'd say that's a pretty unrobust economic situation. Shit does happen, and not h
by jononor 8y ago
Half of Americans don't even have the savings to front a 400USD emergency bill. I'd say that's a pretty unrobust economic situation. Shit does happen, and not having the money to deal with it will cause more problems.
- danielvf 8y agoThat oft quoted stat is a bad interpretation of a survey question that asked “How would you pay for an unexpected $400 expense?” with one choice being “from a savings account”. That’s not the same thing at all as having the money at all - for example, many in the upper 50% would just use their debit card, or put it on a credit card for a month for frequent flyer miles.